The international has been pencilled in for Tuesday November 18 - after both Scotland and England have taken part in Euro 2016 qualifiers - and is likely to be staged at Celtic Park.
Hampden is currently being converted to accommodate athletics events at the Commonwealth Games this summer. It is still uncertain how quickly it will revert back to being a football stadium.
Gordon Strachan's side take on the Republic of Ireland in a Euro 2016 qualifier at a venue that is still to be decided on Friday November 14. Roy Hodgson's team, meanwhile, will play Slovenia at Wembley in a qualifier the next day.
The move comes following the success of the meeting between the two countries as part of the Football Association's 150th anniversary celebrations at Wembley last season. More than 80,000 supporters watched Scotland twice take the lead, through James Morrison and Kenny Miller, only to end up losing 3-2.
Goals from Theo Walcott and Danny Welbeck levelled a full-blooded encounter before substitute Ricky Lambert of Southampton, who was making his international debut, scored a second-half winner.
The game last August was the first time since the Euro 2000 play-off match at Wembley in November 1999, which Scotland won 1-0 thanks to a Don Hutchison goal, that the countries had met. After the August match at Wembley, Strachan admitted that he would relish the opportunity to manage a Scotland side against England on home soil.
He said: "It's always nice to get support from anywhere that you manage or play. But I think we are really disappointed that we couldn't top it off with a win.
"I think we're really disappointed that we've disappointed a few people. But I think we have all enjoyed it. I think the players have enjoyed it."
Scotland had only played the "Auld Enemy" three times in 24 years before the friendly game. They lost 2-0 at Wembley in Euro '96 to goals from Alan Shearer and Paul Gascoigne.
The match between the two nations is the oldest fixture in international football. It was first played at Hamilton Crescent in Partick in 1872 when the game ended 0-0.